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TWITTER FOUNDER PLEDGES $1 BILLION TO COVID

Thursday, 14 May 2020

Jack Dorsey, the founder of Twitter and the Square payment platform, has declared that he is donating $1 billion to COVID-19 response and relief efforts. The financial commitment, represents a whopping 28% of Dorsey’s net worth.

Dorsey recently wrote in a Twitter post that he now plans on selling his Square equity since he currently owns more shares in Square than Twitter, and he hopes to reduce the impact of the donation by selling them over an extended period of time.

As the funds are distributed to various relief efforts through the Start Small Foundation, Dorsey plans to offer full transparency of his donations by tracking them and also making it available for the public.

“Why now? The needs are increasingly urgent, and I want to see the impact in my lifetime. I hope this inspires others to do something similar. Life is too short, so let’s do everything we can today to help people now” wrote Dorsey.

In addition to Dorsey’s donation being one of the most impressive and inspiring contributions towards novel coronavirus relief efforts to date, some state that it may be the largest private donation to a global cause since CNN founder Ted Turner committed $1 billion towards the creation of the United Nations Foundation in 1997.